Ryoshi is getting ready to introduce a governance token to encourage decentralization and community engagement in network decisions. The token will have 200 million in total, valued at $12.5 million when fully diluted. The project hopes to work closely with the Shib community to boost the usage of SHIB tokens.
Ryoshi, a project centered around Shiba Inu, is gearing up to release its governance token, aiming to enhance decentralization and community involvement in network decisions. Using SHIB as its native gas token, Ryoshi hopes to promote the broader global adoption of SHIB tokens.
Shiba Inu’s Layer 2 Blockchain Unveils Governance Token Launch
Shiba Inu’s Layer 2 blockchain recently shared an X post, announcing a significant development in the ecosystem. The project revealed plans for a token launch aimed at promoting early adoption and gathering support within the Shiba Inu community prior to the chain’s official launch.
Woah, wut's this shiny new thing? đź’¸
The #Ryoshi governance token is preparing to #launch, with the intention of bootstrapping early adopters of the network and gaining organic support from within the Shiba Inu community, ahead of our chain being live.
Dive into more details… pic.twitter.com/svFW9h54Gy
— Ryoshi 🔶 (@RyoshiL2) February 5, 2024
Ryoshi, the project responsible for the governance token, has provided details on its tokenomics breakdown. The token will have a total supply of 200,000,000 tokens, with an estimated fully diluted valuation (FDV) of $12.5 million.
According to the distribution plan, 30% of the tokens, equivalent to 60,000,000 tokens, will be allocated to the ecosystem. The foundation is set to receive 50,000,000 tokens (25%), while the core team will be allocated 20,000,000 tokens (10%). The remaining tokens will be utilized for activities such as market making, liquidity, and private liquidity raises.
Ryoshi Token Benefits and Features
The platform assures Ryoshi token holders the opportunity to actively engage in proposals, vote on upgrades, and play a vital role in key ecosystem decisions. Ryoshi tokens serve as a gateway to an enhanced ecosystem, offering SHIB holders unprecedented access to global adoption. By leveraging $SHIB as gas, users can access the full spectrum of features within the current web3 landscape.
Ryoshi Tokenomics. (Source:Â Ryoshi Research)
Ryoshi emphasizes its commitment to transparency, prioritizing the needs and interests of its community. With a focus on empowering the Shib Army, Ryoshi aims to be the quintessential solution for enthusiasts seeking active participation and engagement within the ecosystem.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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